SapuraKencana wins $312M contracts in Asia, Africa, and Russia

SapuraKencana Petroleum Berhad

Malaysia's SapuraKencana Petroleum Berhad, a global integrated oil and gas services and solutions provider, has won a total of five new contracts worth $312 million (MYR 1 billion) in the Ivory Coast, Russia, India, Brunei, and Malaysia.

"We are happy to record another set of new contracts worth MYR 1 billion in diverse areas of the world so soon after our last announcement in April, where our subsidiaries had won major contracts worth close to $468 million (MYR 1.5 billion) in several countries," said Shahril Shamsuddin, president and Group CEO of SapuraKencana Petroleum.

In the Ivory Coast, SapuraKencana Drilling Holdings Ltd., a wholly owned subsidiary of the Group's drilling division, has been awarded a contract for the provision of offshore drilling rig and services by its tender assist drilling rig SKD T- 20 by CNR International (Cote d'Ivoire) SARL.

The CNRI contract comprises the provision of SKD T-20 for wells in the Espoir Field in Block CI-26 offshore Cote d'Ivoire. The drilling program includes drilling, side-tracking, completion, and other associated works, where applicable. The contract is for a primary term of 10 firm wells to be completed in not less than 365 days, followed by four single well options to be exercised at CNRI’s sole discretion.

In Russia, TL Offshore Sdn Bhd (TLO), a wholly owned subsidiary of the Group's Offshore Construction and Subsea Services division, won a charter contract with Heerema Marine Contractors Nederland SE (HMC) for the provision of a command installation vessel SK1200 for the Arkutun-Dagi Project in Sakhalin.

HMC was awarded a contract by Exxon Neftegas Ltd (Exxon) for the transportation and installation of the Arkutun-Dagi topsides. HMC, in turn, awarded TLO with transportation of Exxon’s temporary living quarters under the charter. The charter will be for a firm period of 55 days, and the charterer has an option of 15 daily extensions.

TLO also won a subcontract in India for the provision of transportation and installation works in connection with the British Gas Exploration & Production India Ltd. Mukta B Platform and Pipeline Project by Larsen & Toubro Ltd. (L&T). This was awarded through L&T Sapura Offshore Private Ltd., an Indian joint venture company between L&T and Nautical Power Pte Ltd, a wholly owned subsidiary of SapuraKencana.

The LTS Subcontract comprises the provision of transportation and installation of jacket, topside, and pipelines, including tie-ins, transportation and installation engineering, procurement, and provision of riser clamps for risers at existing platforms, pre-commissioning, and project management.

SapuraAcergy Sdn Bhd, a joint venture company equally owned by SapuraKencana and Subsea 7 SA, has been awarded a 20-month contract for the provision of subsea services for Brunei's Maharaja Lela South (MLS) Project by Total E&P Borneo BV.

The MLS contract comprises engineering, procurement, supply, construction, pre-commissioning, transportation, and installation related to offshore platform and pipeline works together with associated assistance to startup.

Finally in Malaysia, JX Nippon Oil & Gas Exploration (Malaysia) Ltd. has awarded Kencana HL Sdn Bhd, a wholly owned subsidiary of the Group's Fabrication, Hook-up and Commissioning division with a contract for the provision of detailed engineering, procurement, construction, and commissioning for the Layang Development (Facilities) Project. This project is for a period of two years and is expected to be completed by the second quarter of 2016.



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